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Nottingham University Raises Funds Through Share Sell Off

Posted by Richard Ward in ,

Image courtesy of Flickr, Creative Commons

The University of Nottingham has sold shares in one of its companies, helping to raise over £5 million, which will be used to support the University's research and teaching activities.

The company, Oncimmue, is helping to lead the fight against early cancer detection, pioneering the development of autoantibody tests that can detect cancer four years earlier than other methods.

The company was formed off the back of research undertaken by Professor John Robertson, based in the Faculty of Medicine and Health Sciences.

His research resulted in the formation of the spin-out company in 2002, which has been listed on AIM since 2016.

The sale of the shares in the company falls in line with the University's policy and has generated a substantial return. It also still holds 2.2 million shares, possibly providing further financial benefit in the future.

The University's spin-out portfolio is managed by the subsidiary Nottingham Technology Ventures, which includes a portfolio of over 20 businesses.

Commenting on the sale, Chief Executive of Nottingham Technology Ventures, Andrew Naylor, said: "The sale of shares represents a significant return on our original investment in Oncimmune and the company is an exemplar of what can be done when a technology is successfully spun out from the University of Nottingham."